Hi Joshc Well done on gettig in at 0.5. I have also been in IFN for a few years. I bought initially a bit higher and diluted down and have sold some recently to capitalize some of that dilution. It is still >10% of the portfolio (from about 15% not long ago) and I will be looking for more as discounts when cash allows. I am expecting steady growth with modest dividend value added due to good cash generation for IFN. There are a few capital light generation streams coming online so debt pay down is looking good. The arbitrage opportunity using BESS with solar making the market lopsided and two bights at the cherry from wind will make the cash result for next quarter favorable IMHO. I believe there will be a seasonal lull in Autumn and this may provide an SP opportunity if the market reacts to the top line dip. I will look to top up at any weakness because the overall performance will continue to grow as 1) debt drops and 2) more production comes online. This is only based on my own situation but a LT hold for sure. I am expecting at least a 3 year growth cycle from here but am mindful that risks such as infrastructure access or malfunctions reducing production, natural disasters such as fire affecting production and unexpected changes to policy and interest environment may negatively affect the Company.
As a general note we have between 15-20 Companies in the portfolio and there are some duds but on average it seems to weather fluctuations well. I am nervous when I have anything over 20% of the holdings, even when the company seems to be going gangbusters due to the market volatility and risk of external factors pulling the rug out so I will reduce those that seem toppy regardless of how great they seem to be going. This allows me to build capital for other opportunities as well.
Good luck Strange
IFN Price at posting:
77.5¢ Sentiment: Buy Disclosure: Held
